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What to expect
Partnerships are at the heart of everything we do. When you partner with NGP, you can expect our advisors, deal team, investors, as well as current and prior EIRs to help you with your search, and be a constant source of support.
We begin our EIR development and training with a 10-day boot camp. The boot camp covers all aspects of the search as well as the transaction process. During Bootcamp, each searcher is introduced to current and prior searchers, the deal team, and to members of the Advisory Board. Once the 10-day boot camp is complete, Entrepreneurs work with our deal team on a series of case studies to ensure that they have mastered the content.
After onboarding is complete, the deal team works with the entrepreneur on their investment thesis and sourcing strategy. In addition, new entrepreneurs are actively mentored by existing entrepreneurs. They will listen in on owner and broker calls, and be actively coached as they start reaching out to business owners.
By the end of the first 30 days, each entrepreneur’s search is up and running, they have a solid understanding of NGP’s “Strike Zone”, and a tailored sourcing plan. Thereafter, entrepreneurs are working on live deals with our deal team and advisory board members and given feedback on a regular basis. Feedback is also given during our weekly pipeline meetings, weekly one-on-one meetings and quarterly metrics reviews.
Are you ready to lead a company into its next phase of growth?
EIR candidates must be motivated, passionate, bias to action, and persistent.
Possess sharp analytical and financial skills.
A high EQ, coachability, curiosity, integrity, and exceptional communication skills.
Experience is everything. Potential candidates must have a track record of achievement and leadership.
EIRs must be team players and open to any and all collaboration opportunities.
A transaction can take anywhere from 1 to 2 years. Every individual Entrepreneur-in-residence that has partnered with our firm has successfully acquired a business or is currently searching.
Our EIRs have access to our entire network of seasoned advisors, operators, and team members that will help guide them through the entire process, specifically our deal team. The deal team is involved in every facet of the transaction. They help EIRs negotiate the deal, secure funding, liaise with the service providers, craft the investment memo, and help with the value creation plan. Keep in mind, every step of the transaction is carefully managed and monitored by NGP mentors and advisors.
As an EIR you’ll need to be resourceful, proactive, and ready to hustle. We look for candidates who are motivated, bias to action, and persistent. EIR candidates need to have sharp analytical and financial skills as well as a high EQ and track record of achievement and leadership. When it comes to personality, potential candidates should be coachable, curious, maintain strong integrity, possess effective communication skills, remain open to collaboration, and always be a team player.
A common misconception is that searchers only come from private equity backgrounds and that simply is not true. Our EIRs come from all different backgrounds—from technology to construction services to the wine and spirits industry, if you’ve got the drive to begin our search we’re here to help you.
Becoming an EIR is a very thorough process at NextGen. It begins with an initial screening where we get to know who you are and what you’re interested in. Next, you’ll go through the application process followed by an interview and case study. Our team will then perform a personality assessment to make sure you’re a good fit for our team. Following your personality assessment, our advisory board will perform an evaluation, we’ll check your references, and then comes your offer.
When you become an EIR at NextGen you gain access to our entire network of seasoned advisors, operators, and team members that will have your back from day one. Our partnership doesn’t end once EIRs move into their new roles as CEOs. Post-acquisition we provide CEOs with a board of directors, a director of portfolio operations, formal onboarding, regular check-ins, a career coach, and all of the NGP tools, resources, and best practices.
Dip your toe in the water.
Contact us to start an exploratory conversation about becoming an entrepreneur-in-residence or joining the executive team of one of our portfolio companies.